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Updated almost 7 years ago on . Most recent reply
Foreign LLC to Buy Notes in Texas?
I'm about to start buying notes, and I have read that it's best to do that as an LLC for personal liability protection. I live in TX, but the liens will be from various states. Would it be in my best interest to register as a foreign LLC in Texas?
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Bob Malecki
#5 Tax Liens & Mortgage Notes Contributor
#5 Tax Liens & Mortgage Notes Contributor
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- Kingston, WA
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Bob Malecki#5 Tax Liens & Mortgage Notes Contributor
#5 Tax Liens & Mortgage Notes Contributor
- Investor
- Kingston, WA
Hi @Laura McPhail for notes you don't need to register as a foreign entity in any state since a note is personal property and not real property (real estate). If you foreclose on the home and keep it in your portfolio, THEN you would register with the state in which the property is located.
Bob